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Explore the performance of superannuation over time and how the investment option you choose may be affected by your life stage. Part 1: Interpreting superannuation data What conclusions can you draw about the performance of superannuation over time? How many times in the past 20 years have returns on investment been: Positive Negative? What year saw the lowest (or highest negative) return? What year saw the next…

When it comes to choosing a super investment option, your future could depend on the decisions you make now – so take a little time to make sure you’ve made the right choices by weighing up the options around investment strategies, timeframe, asset-mix, risk-return and volatility.    Image: Annotated line graph showing the difference between conservative, balanced and growth investments in relation to risk, volatility and return on…

What is the Age Pension? The Age Pension is designed to support the basic living standards of older Australians. It is paid by the government to people who meet age and residency requirements. It is targeted through the means test to those who need it most. Pension rates are indexed to ensure they keep pace with Australian price and wage increases. The Age Pension is designed to provide a ‘safety net’ for people who do not have enough…

The Australian Government introduced superannuation to ensure every Australian has a financially secure life in retirement. It was introduced in the context of an ageing population and concerns that age pension payments would be overwhelming to the country’s economy in the future if nothing was done. Part 1: Write an explanation Write you own statement (1 or 2 paragraphs) explaining the following: How Australia’s superannuation system…

When you are employed, it’s important you understand your rights in relation to super.What are your rights?If you are under 18, you are entitled to superannuation for each week you work more than 30 hours. Most people also have the right to choose their own super fund. You can choose your super fund by completing a superannuation standard choice form.How do I know how much super should be paid?Under the superannuation guarantee, employers must…

Your superannuation balance at retirement may influence how comfortable your retirement is. It is important that you manage your superannuation throughout your working life. If you act now, you may have a more comfortable retirement. Here are some steps that might help. Set up a myGov account With a myGov account, it’s easy to manage your super. You can use your myGov account to: Check whether your employer is paying your…

Draw a flow chart of the services you can access through myGov and what information and services you can access by linking to the Australian Taxation Office. List the advantages of being able to access government services online. Why is it important that you protect your myGov account information and never share your myGov sign in details with anybody else, including tax agents? Go to the ATO website and search 'Create a myGov account…

myGov is a simple and secure platform that allows you to link and access government services online in one place. What services you can I access? Here are just some of the services you can link to your myGov account: Australian Taxation Office (ATO) Workforce Australia Centrelink Medicare My Health Records National Disability Insurance Scheme Receive secure messages Your myGov Inbox keeps the messages from your linked services safe…